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people participating in the global economy, when you add china, india, others that have exniced prosperity comes from the private sector rm we've got the same antiquated tax system today that we had 20 years ago. we should be taking the opportunity to relook this thing and say, what does it take to be globally competitive today? yes, i was on the simpson bowles commission. some might think i like that proposal a lot, i did. i don't think it has to be exactly like that but i think there are some principles in there that are important. this idea of doing individual, corporate, cap gains do it all at the same time, makes sense. the territorial system for companies makes sense, with the right anti-abuse clauses so nothing screwy happens. that we he re-look all the deductions as we lock at simplifying the system because every deduction, while important to somebody, is a market distortion. and we ought to be looking at do, we want these market distortions at a time when our economy needs more flexibility to respond to a very globally different place than we had 20 years ago. so i thin
is the head line at "the washington post" fed page. josh hicks reports -- guest: i just got back from china, and we talked about the electoral college there, and a state that have a problem with freedom, you know, and democracy. they can't figure it out. i tried to explain to them and they still wonder why do we still have this if we were this representative democracy and the people have their way. very interesting. host: how did you answer the question? guest: i tried to explain the foundation. the fact we have federalism and states have power and in this particular case it is the power to select a president. they did not want congress to do it. but they still cannot buy it, i don't think. host: on twitter -- asking to explain the historical justification and why do we need it now. guest: the justification for it at the founding was they did not want congress to make the selection of the president. they wanted to take away from the capital where maybe chicanery would occur and people would do deals. they wanted it to respect federalism, a federal election rather than a national legend. it
going to compete with china with 1.3 billion people? the answer is we can have the entire world at our disposal by creating conditions that the best people in the wormed can come to the united states and study. >> and stay and start businesses. >> two, then we have to focus on faction, particularly the corporate tax reform, to get a system which is simpler and promotes efficiency and makes it easier for businesses to compete if the world. third, then we have to -- that will create -- that will be enormous. third, then there is a infrastructure investment that needs to be made. this is very important because in the context of the kiped of budget deal we'll get where we'll spend less going forward as businesses, we have to think about what our values are with respect to what we'll spend money on. the most important things we can spend money on is infrastructure to again create -- make investments in the future rather than just short-term spending. and then twin that with important support for research, basic research, and for higher education as drew talked about. and for education. thos
Search Results 0 to 2 of about 3

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